Posting Language
Title
Approve a resolution consenting to the issuance of multifamily private activity bonds by Austin Affordable PFC, Inc., an affiliate of the Housing Authority of the City of Austin, in an amount not to exceed $10,000,000 to finance, in part, the acquisition and rehabilitation of an affordable rental development to be known as Heritage Pointe and to be located at or near 1950 Webberville Road, Austin, Texas 78721. Funding: Consenting to the issuance of these bonds does not constitute any obligation of the City with respect to repayment of the bonds.
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Lead Department
Housing Department
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
August 29, 2024 - Council approved a resolution related to an application by 1950 Webberville Road (TX) Owner LP, or an affiliated entity, for housing tax credits for the acquisition and rehabilitation of a multi-family development to be financed through the private activity bond program and to be known as Heritage Pointe, located within the City at or near 1950 Webberville Road, Austin, Texas 78721.
August 29, 2024 - Council approved a resolution consenting to the issuance of multifamily private activity bonds by Austin Affordable PFC, Inc., an affiliate of the Housing Authority of the City of Austin, in an amount not to exceed $29,300,000, to finance, in part, the acquisition and rehabilitation of an affordable rental development to be known as Heritage Pointe, located at or near 1950 Webberville Road, Austin, Texas 78721.
For More Information:
Deletta Dean, Director, Austin Housing, 512-978-1410; or
Mandy DeMayo, Deputy Director, Austin Housing, 512-974-1091.
Additional Backup Information:
If approved, this resolution will allow Austin Affordable PFC, Inc. (the Issuer), a public facility corporation organized and operated under chapter 303 of the Texas Local Government Code and affiliated with the Housing Authority of the City of Austin, to issue multifamily housing revenue bonds to hel...
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